NEW YORK, NY / ACCESSWIRE / September 17, 2021 / Labaton Sucharow, a nationally ranked and award-winning shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Zymergen Inc. ("Zymergen" or the "Company") (NASDAQ:ZY) common stock pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company's April 2021 initial public offering ("IPO"). Zymergen investors have until October 4, 2021, to file a motion to serve as lead plaintiff.
On August 3, 2021, less than four months after its IPO, the Company issued a disappointing business update and revised its financial forecast citing "issues with its commercial product pipeline." Additionally, the Company announced that its CEO Josh Hoffman would be stepping down from his role, effective immediately. On this news, the Company's stock price plummeted over 70%. The Company now stands accused of issuing a registration statement that was materially false and misleading and omitting to state material adverse facts.
If you purchased stock of ZY and want to receive additional information and protect your investments free of charge, please contact David J. Schwartz using the toll-free number (800) 321-0476 or via email at [email protected].
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Labaton Sucharow LLP is one of the world's leading complex litigation firms representing clients in securities, antitrust, corporate governance and shareholder rights, and consumer cybersecurity and data privacy litigation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at https://info.labaton.com/securities-violations.
David J. Schwartz
SOURCE: Labaton Sucharow LLP